REAL ESTATE NEWS
(Downtown Los Angeles) — The buyer’s market is in full swing as the Federal Reserve communicates that it doesn’t plan to raise interest rates for the rest of the year.
The signal is quickly sending mortgage rates lower. #mortgage #homeprices #dtla
The average 30-year fixed rate mortgage has dropped to 4.34% from 4.4%, taking it to a 52-week low, according to Mortgage News Daily. That could be the shot in the arm the housing market needs to get out of its current lull.
After the Fed also lowered its economic forecast, however, it’s questionable whether or not consumer confidence will be strong enough to realize a boost in home sales. The Fed appears to be following the same policy of diminishing effects, whereby the Bank of Japan caused decades of painfully slow economic growth, accompanied by prolonged stagnation of real estate.
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.